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Question
In India, the Reserve Bank of India. (The central bank of the country) was nationalised in ______.
Options
1949
1955
1969
1980
Solution
In India, the Reserve Bank of India. (The central bank of the country) was nationalised in 1949.
Explanation:
The Reserve Bank of India (RBI) was nationalized on January 1, 1949. Nationalization shows that the RBI's ownership was transferred from private shareholders to the government of India.
RELATED QUESTIONS
Read the extract given below and answer the questions that follow:
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MONEY CONTROL NEWS June 12, 2023/07: 05 PM IST The Reserve Bank of India (RBI) on June 12 imposed monetary penalties on four cooperative banks citing various rule violations. These are Cooperative Bank of Rajkot, Telangana State Cooperative Apex Bank Ltd, The Bihar State Cooperative Bank Ltd and Jowai Cooperative Urban Bank Ltd. The RBI's enforcement operations are conducted by the Enforcement Department. The RBI's EFD was set up in April 2017 to separate enforcement action from the supervisory process. The EFD identifies actionable violations from the inspection reports, risk assessment reports and scrutiny reports. Market intelligence reports, references from the top management and complaints are also used for investigation. |
- Which type of credit control method of the RBI has been highlighted in the above case study?
- Citing reasons state the advantage of credit card over currency notes.
- Briefly explain the following credit control methods adopted by the Central Bank:
- Publicity
- Moral suasion
Banking is a relationship-oriented industry. Give two reasons either for or against.
A Central Bank is an apex institution in the banking structure of a country.
What is a Central Bank?
